Protecting your family assets
Many families own special assets not because they seek a rate of return on them as an investment, but simply because the assets mean something special to the family. A common example is family vacation property. Often the property is the setting for favorite family events. Maybe it has been in the family for years. Sometimes the property has increased so much in value, and ownership has splintered so much over the years, that the ownership arrangement simply does not work any more. Or perhaps there is lack of clarity about how and when the property is to be used.
Sometimes, by addressing issues involved in legacy assets, families find they improve how they handle similar issues in their operating companies and other enterprises.
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